Tersus is a highly niche property maintenance business specialising exclusively in asbestos management.
In 2005, Meridian Equity acquired the business from 2 brothers, one of whom wished to sell his entire stake and live overseas whilst the other saw the opportunity to de-risk his investment by selling some of his shares but wanted to continue to run the business, with us as fellow shareholders, and to participate in its ongoing growth.
Upon acquisition in 2005, Tersus was a single-site business. However, under our stewardship, Tersus grew to 5 sites and became one of the largest independent asbestos consultancies in the UK.
During this time, we expanded and improved its service offering, broadened its customer base and de-risked the business by exposing it to different markets. We also invested heavily in the company’s infrastructure thereby streamlining its operations, and also merged the business with one of its main competitors.
With our guidance, the highly-capable management team achieved their goal of making a huge success of this business, eventually selling it, in October 2015, to Laboratoires Protec S.A., the French-listed environmental services group.